As the UK’s market-leading provider of office technology and supplies we are targeting a 25% growth over the next three years.
Our management team and Business Manager Stewart Abrahart have been working closely with Lloyds Commercial Banking who have provided us with an expanded acquisition fund. This package will help us to achieve our aims of driving growth by identifying acquisition targets, bolstering our data & cloud technology offering and increase our overall capacity.
The move is part of our aggressive ongoing growth strategy, which has seen the business acquire ten businesses in the past five years, including Pro-Copy Ltd. We are also developing our data and cloud technology product range, which will then be rolled out to our professional services clients.
Sales have risen by 10% in the last twelve months, contributing to an annual turnover of over £70 million and we now employ 420 staff across twelve nationwide locations.
Our CEO James Abrahart said: “We’ve built a great reputation to become the UK’s largest independent player in this field and we’re determined to keep growing. With a large amount of quality firms in the sector at the moment, this is a great opportunity to expand our team and operations.
“The funding package from Lloyds Bank gives us the flexibility to identify the right opportunities and adopt a measured growth strategy that matches the organic growth of the business. It’s an exciting time for the business, and we’re looking forward to the prospect of expanding our presence and team in the near future.”
Jasmeena Sandhu, Mid-Markets Relationship Manager at Lloyds Bank Commercial Banking, added: “Altodigital has achieved impressive growth since its creation, and this year has been no exception. It’s the perfect time for Altodigital to benefit from market conditions and explore different options to expand the business.
“As a UK based business with twelve locations it’s making a fantastic contribution to the regional, and national economy and we’re pleased to facilitate its further success. As part of our wider plan to help Britain prosper, we’re committed to providing solutions for businesses, and we’re committed to increasing our funding to SMEs and mid-market business by £2bn this year.”